Sunrise’s various share classes will be listed on Nasdaq later this week – Liberty has telco businesses in Belgium, Ireland, the Netherlands, Slovenia and UK
Liberty Global says it has completed the spin-off of its Swiss business, Sunrise, into a separate publicly traded company. It announced its intention to spin off Sunrise into a separate listed entity in February this year. The transaction was given approval at a special meeting of Liberty Global shareholders on 25 October, 2024.
Liberty Global will continue to own and operate its Liberty Telecom businesses in Belgium, Ireland, Slovakia, the UK and the Netherlands, the company said.
Unlocking value
Mike Fries, CEO, Liberty Global (pictured), and incoming Chairman of Sunrise, comments, “The successful completion of the spin-off marks an important milestone in our ongoing strategy to unlock value for Liberty Global shareholders, allowing them to directly participate in the future performance of Sunrise with its strong capital structure, attractive equity story, future cash generation potential and scope for dividends.
“Under the leadership of its experienced management team, Sunrise is well-positioned to continue to deliver innovative solutions and superior connectivity to Swiss consumers and businesses.”
Trading
Sunrise shares, in the form of Sunrise American Depository Shares (ADSs), will be distributed to Liberty Global shareholders by the ADS depository on 12 November. Sunrise Class A ADS will commence trading on the Nasdaq under the ticker symbol “SNRE” on November 13, and the Sunrise Class A common shares on the SIX Swiss Exchange under the ticker symbol “SUNN” on November 15.
Sunrise Class A shares are anticipated to be included in the Swiss Performance Index five trading days following November 15, 2024.
For more details, see here.